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单词 letter of guarantee
释义

letter of guarantee

Definition
Document used mainly in the Far East (China, Japan, Korea, Singapore, Taiwan, among others) whereby an importer obligates itself to accept and pay a bill of exchange on its presentment at a certain bank. The objective of this letter is to secure that bank's acceptance of an exporter's draft, for payment through its correspondent bank (where the draft will be presented).
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更新时间:2025/4/16 13:07:55